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Euronews
27-05-2025
- Entertainment
- Euronews
Don't miss these must-see sights on your next trip to Astana
Astana is a modern capital rising from the Kazakh steppe, known for its futuristic architecture, extreme climate, and role as a Central Asian political and cultural hub. The city defines itself in many ways – as a business centre, a cultural haven, a gastronomical pole, and more. Recently, it's made strides to become a hotspot for international events. Over 500 events took place in Astana last year, attracting 13% more tourists to the city than the year before, according to Olga Abeldinova, Director of Tourist Services and Infrastructure Department at the Tourism Development Centre 'Astana Tourism'. 'We invite Class A stars, which attracts tourists from neighbouring countries and increases the status of the city,' Abeldinova said. 'If Hollywood stars come here, it connotes a certain security and trust.' Abeldinova highlighted Jennifer Lopez's concert in April 2025 and Andy Serkis headlining Astana Comic Con 2025 as examples of top-billed stars visiting the city. Whether you're in Astana for an event or just visiting as tourist, the city has something to offer every type of traveller. Don't miss our favourite attractions and monuments on your next trip to the Kazakh capital. The first thing any resident of Astana will likely tell you to visit is Baiterek – a soaring beacon that watches over every part of the city, which has become its de facto symbol. The 105-metre tower at the centre of the left bank was inspired by a Kazakh legend, and represents the Tree of Life with a golden egg at its top. There's a small ethnographic museum on the ground floor of the tower, and a panoramic deck on the top floor, where you can enjoy sweeping views of the city – with the 'Akorda' Presidential Residence on one side and the Nurly Zhol Boulevard on the other. To enjoy the view, or perhaps touch the palm print of the first Kazakh President, you will need to pay a 2,000 KZT (€3.5) entrance fee. For more cityscapes, you can also catch a hop-on/hop-off bus service here that will take you to the main tourist sites across the capital. From Baiterek, an easily accessible next stop is Nurly Zhol Boulevard – the perfect place for a leisurely stroll. It starts at the Presidential Residence and stretches all the way to the Khan Shatyr mall, which is built to look like a large tent. As you make your way down the Boulevard, you will see the administrative centre of the city, with ministry buildings and national company offices, as well as cafes, fountains, and a sprinkling of unique sculptures. Like Paris or Budapest, the city of Astana is divided by the Ishim River (Yessil in Kazakh) into left and right banks. The right bank is an older part of the city, featuring mainly Soviet style architecture, while the left bank is the newer, more futuristic part of town, full of glittering high rises. When the weather is nice, especially in summer, locals flock to the riverside on the right bank to take pictures at the beautiful Atyrau bridge and cross the Seruen Bridge into the Amusement Park. If you want to enjoy the river while seeing as many of Astana's landmarks as you can, taking a ferry is the way to go. A 45-minute ride will cost you 4,000 KZT (€7) at the small booth hidden by the trees. Islam is the largest religion practiced in Kazakhstan, so it is no surprise that it has awe-inspiring mosques. Opened in 2022, Astana Grand Mosque is the newest attraction in the city. The 68,062 square metre house of worship is the largest mosque in Central Asia. It can accommodate almost 250,000 people at the same time, making it one of the top 10 in the world. Hazrat Sultan Mosque is a little smaller in comparison but is still a beautiful example of religious architecture. Both mosques are adorned with ornate carpets, majestic chandeliers, verses from the Quran, and Kazakh ornaments. Entrances to mosques are free but be sure to wear proper clothing – for women, that means covering head, shoulders, and knees and for men, avoiding shorts. To dive deeper into the history and culture of Kazakhstan and the nomadic people that inhabited its territory you should pay a visit to the National Museum. The biggest museum in Central Asia is home to many historic artefacts as well as contemporary art pieces. It also has a separate exhibition hall for temporary exhibition. 'Last year, the museum hosted the Leonardo da Vinci exhibit, in partnership with Italy, and it gathered a lot of international visitors,' said Olga Abeldinova. The exhibition centred on La Bella Principessa, a portrait of an Italian noblewoman, which was exhibited only five times before. Ticket prices vary depending on which halls you want to see, but the basic entrance fee is 700 KZT (€1.2). The most convenient thing about Independence Square is that it gathers many of the places worth seeing in Astana in one location. Both the National Museum and the Hazret Sultan Mosque are located here, as well as the Independence Palace and the Shabyt Arts University. The latter two both feature unusual architecture, but serve as more functional buildings than classic tourist attractions. The square's centrepiece is the Kazakh Eli Monument, which celebrates Kazakhstan's 1991 independence. The four sides of the monument represent the country's past and future, as well as its people. Across from Independence Square, you will see the Palace of Peace and Reconciliation, known to locals as the Pyramid. Initially built for the session of the Congress of Leaders of World and Traditional Religions, it now serves as a city landmark. Inside you'll find a hall for events, an opera hall and an exhibition venue, which you can visit for 1,000 KZT (€1.7). The Pyramid is situated in the Presidential Park, which stretches to the river and meets the Presidential Palace on the other side. It can be accessed from Nurly Zhol Boulevard, but you would have to loop around to cross the river. These sights will give you a taste of what Astana is all about, but the city is in constant flux, with new attractions appearing all the time. Astana is also home to many parks, an oceanarium, opera and ballet houses, and much more – just follow your curiosity and this welcoming city will gladly reward you. If you have been to Rio de Janeiro' beaches, this probably sounds familiar: samba music drifting from a nearby kiosk, caipirinha cocktails sold by hawkers, chairs sprawled across the sand. Now that may become harder to find, unless the vendors have the right permits. Mayor Eduardo Paes issued a decree in mid-May establishing new rules for the city's waterfront saying he wants to preserve urban order, public safety and the environment, as well as promote peaceful relations between tourists and residents. The new measures are due to come into force on 1 June, and they outlaw food and drink sales, chair rentals, loudspeakers and even live music in kiosks without official permits. Beach huts will only be allowed to have a number rather than the often-creative names many are currently known by. Some have welcomed the move to tackle what they perceive as chaotic activity on the beach, but others say the decree threatens Rio's dynamic beach culture and the livelihoods of many musicians and local vendors who may find it difficult or impossible to get permits. The move to regulate music on Rio's beachfronts has struck a particular nerve. 'It's difficult to imagine Rio de Janeiro without bossa nova, without samba on the beach,' said Julio Trindade, who works as a DJ in the kiosks. 'While the world sings the Girl from Ipanema, we won't be able to play it on the beach.' The restrictions on music amounts to 'silencing the soul of the waterfront. It compromises the spirit of a democratic, musical, vibrant, and authentic Rio,' Orla Rio, a concessionaire who manages more than 300 kiosks, said in a statement. Some are seeking ways to stop the implementation of the decree or at least modify it to allow live music without a permit. But so far to little avail. The nonprofit Brazilian Institute of Citizenship, which defends social and consumer rights, filed a lawsuit last week requesting the suspension of the articles restricting live music, claiming that the measure compromises the free exercise of economic activity. A judge ruled that the group is not a legitimate party to present a complaint, and the nonprofit is appealing the decision. Last week, Rio's municipal assembly discussed a bill that aims to regulate the use of the coastline, including beaches and boardwalks. It backs some aspects of the decree such as restricting amplified music on the sand but not the requirement that kiosks have permits for live musicians. The proposal still needs to formally be voted on, and it's not clear if that will happen before 1 June. If approved, the bill will take precedence over the decree. Economic activity on Rio's beaches, excluding kiosks, bars and restaurants, generates an estimated 4 billion reais (around €621 million) annually, according to a 2022 report by Rio's City Hall. Millions of foreigners and locals hit Rio's beaches every year and many indulge in sweet corn, grilled cheese or even a bikini or electronic devices sold by vendors on the sprawling sands. Local councilwoman Dani Balbi lashed out against the bill on social media. 'What's the point of holding big events with international artists and neglecting the people who create culture every day in the city?' she said last week on Instagram, in reference to the huge concerts by Lady Gaga earlier this month and Madonna last year. 'Forcing stallholders to remove the name of their businesses and replace it with numbers compromises the brand identity and the loyalty of customers, who use that location as a reference,' Balbi added. News of the decree seeking to crack down on unregistered hawkers provoked ripples of anger and fear among peddlers. 'It's tragic,' said Juan Marcos, a 24-year-old who sells prawns on sticks on Copacabana beach and lives in a nearby favela, or low-income urban community. 'We rush around madly, all to bring a little income into the house. What are we going to do now?' City Hall doesn't give enough permits to hawkers on the beach, said Maria de Lourdes do Carmo, 50, who heads the United Street Vendors' Movement — known by its acronym MUCA. 'We need authorisations, but they're not given,' said Lourdes do Carmo, who is known as Maria of the Street Vendors. The city government did not respond to a request for the number of authorisations given last year. Following the outcry, the city government emphasised that some rules were already in place in a 21 May statement. The town hall added that it is talking to all affected parties to understand their demands and is considering adjustments. Maria Lucia Silva, a 65-year-old resident of Copacabana who was walking back from the seafront with a pink beach chair under her arm, said she had been expecting City Hall to act. 'Copacabana is a neighbourhood for elderly people (… ). Nobody pays a very high property tax or absurd rents to have such a huge mess,' Silva said, slamming the noise and pollution on the beach. For Rebecca Thompson, 53, who hails from Wales and was visiting Rio again after a five-week trip last year, the frenzy is part of the charm. 'There's vibrancy, there's energy. For me, there's always been a strong sense of community and acceptance. I think it would be very sad if that were to go,' she said.
Yahoo
15-05-2025
- Business
- Yahoo
Tethys Petroleum Corporate Update
Grand Cayman, Cayman Islands--(Newsfile Corp. - May 14, 2025) - Tethys Petroleum Limited (TSXV: TPL) ("Tethys" or the "Company") is pleased to provide an update on the Company's operations in the Republic of Kazakhstan. Arbitration update In November of 2023 Tethys initiated an arbitration with the International Arbitration Centre regarding a Settlement Deed and Release Agreement that was entered into in December of 2019. The relief sought by Tethys was to declare that the Settlement Deed and Release is no longer binding, and for DSFK Special Finance Company LLP to pay Tethys Petroleum 1,434,692,762 KZT, and for the 18 million shares issued to Olisol Petroleum Limited to be cancelled. On May 13, the sole Arbitrator ruled and declared that the Settlement Deed is declared no longer binding. DSFK Special Finance Company LLP is ordered to pay Tethys Petroleum Limited 1,434,692,762 KZT. Olisol Petroleum Limited is ordered to cancel share certificates GS 44 and GS 43 (totaling 18 million shares). DSFK Special Finance Company LLP and Olisol Petroleum Limited are ordered to pay Tethys 50,000 EUR and 50,000,000 KZT towards the reimbursement of the costs of the arbitration and the Company's legal costs. The Company is in the process of determining the next steps necessary to have the arbitration ruling enforced. About Tethys Tethys is focused on oil and gas exploration and production activities in Central Asia and the Caspian Region. Disclaimer Some of the statements in this document are forward-looking. No part of this announcement constitutes, or shall be taken to constitute, an invitation or inducement to invest in the Company or any other entity and shareholders of the Company are cautioned not to place undue reliance on the forward-looking statements. Save as required by applicable law, the Company does not undertake to update or change any forward-looking statements to reflect events occurring after the date of this announcement. Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. Contact Information: Tethys PetroleumCasey McCandlessChief Financial Officer901-763-4001 info@ To view the source version of this press release, please visit Sign in to access your portfolio
Yahoo
13-05-2025
- Business
- Yahoo
AM Best Affirms Credit Ratings of Victoria Insurance Company JSC
LONDON, May 13, 2025--(BUSINESS WIRE)--AM Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of "bbb-" (Good) of Victoria Insurance Company JSC (Victoria) (Kazakhstan). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect Victoria's balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, limited business profile and weak enterprise risk management. Victoria's balance sheet strength is underpinned by risk-adjusted capitalisation at the strongest level, as measured by Best's Capital Adequacy Ratio (BCAR), and its relatively conservative investment portfolio by asset class, providing the company with good levels of liquidity. A track record of solid internal capital generation has resulted in the accumulation of a large shareholders' equity base, available to absorb potential volatility associated with Victoria's underwriting exposures and challenging operating environment. An offsetting factor to the balance sheet strength assessment is Victoria's limited protection against potential natural catastrophe losses in Kazakhstan. Victoria has a track record of strong operating performance supported by solid underwriting profitability, as demonstrated by a five-year (2019-2023) weighted average combined ratio of 77.8% (as calculated by AM Best based on IFRS 4 results). However, technical results have been volatile due to low frequency, high severity claims in its property and liability books of business. In 2024, Victoria reported overall unaudited pre-tax earnings of KZT 14.3 billion (approximately USD 27.8 million), compared with KZT 7.5 billion (approximately USD 14.5 million) in the previous year, underpinned by a good technical result of KZT 2.0 billion (approximately USD 3.8 million) and solid investment returns, reflecting the high-interest rate environment in Kazakhstan and globally. AM Best expects Victoria's operating performance to remain strong, albeit volatile due to changes in the value of fixed-income investments, as a result of interest rates and foreign currency exchange fluctuations. Victoria has a limited business profile as a small, non-life insurer operating solely in Kazakhstan's fragmented and competitive insurance market. The company is ranked 11th among the country's 15 non-life insurers, based on 2024 gross written premium (GWP), with a market share of 1.9%. Victoria's GWP substantially decreased in 2024, to KZT 13.3 billion (approximately USD 25.9 million). The decline was driven by a termination of a material motor and property co-insurance arrangement that has been in place in 2023 and until May 2024. The termination of this agreement had a comparatively smaller impact on the net basis, with Victoria's net written premiums (NWP) declining to KZT 12.5 billion in 2024 from KZT 18.1 billion as this contract was largely reinsured. AM Best remains the leading rating agency of alternative risk transfer entities, with more than 200 such vehicles rated throughout the world. For current Best's Credit Ratings and independent data on the captive and alternative risk transfer insurance market, please visit This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments. AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit Copyright © 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED. View source version on Contacts Anna Sheremeteva Financial Analyst +44 20 7397 6264 Valeria Ermakova Associate Director, Analytics +44 20 7397 0335 Christopher Sharkey Associate Director, Public Relations +1 908 882 2310 Al Slavin Senior Public Relations Specialist +1 908 882 2318 Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Business Wire
13-05-2025
- Business
- Business Wire
AM Best Affirms Credit Ratings of Victoria Insurance Company JSC
LONDON--(BUSINESS WIRE)-- AM Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of 'bbb-' (Good) of Victoria Insurance Company JSC (Victoria) (Kazakhstan). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect Victoria's balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, limited business profile and weak enterprise risk management. Victoria's balance sheet strength is underpinned by risk-adjusted capitalisation at the strongest level, as measured by Best's Capital Adequacy Ratio (BCAR), and its relatively conservative investment portfolio by asset class, providing the company with good levels of liquidity. A track record of solid internal capital generation has resulted in the accumulation of a large shareholders' equity base, available to absorb potential volatility associated with Victoria's underwriting exposures and challenging operating environment. An offsetting factor to the balance sheet strength assessment is Victoria's limited protection against potential natural catastrophe losses in Kazakhstan. Victoria has a track record of strong operating performance supported by solid underwriting profitability, as demonstrated by a five-year (2019-2023) weighted average combined ratio of 77.8% (as calculated by AM Best based on IFRS 4 results). However, technical results have been volatile due to low frequency, high severity claims in its property and liability books of business. In 2024, Victoria reported overall unaudited pre-tax earnings of KZT 14.3 billion (approximately USD 27.8 million), compared with KZT 7.5 billion (approximately USD 14.5 million) in the previous year, underpinned by a good technical result of KZT 2.0 billion (approximately USD 3.8 million) and solid investment returns, reflecting the high-interest rate environment in Kazakhstan and globally. AM Best expects Victoria's operating performance to remain strong, albeit volatile due to changes in the value of fixed-income investments, as a result of interest rates and foreign currency exchange fluctuations. Victoria has a limited business profile as a small, non-life insurer operating solely in Kazakhstan's fragmented and competitive insurance market. The company is ranked 11 th among the country's 15 non-life insurers, based on 2024 gross written premium (GWP), with a market share of 1.9%. Victoria's GWP substantially decreased in 2024, to KZT 13.3 billion (approximately USD 25.9 million). The decline was driven by a termination of a material motor and property co-insurance arrangement that has been in place in 2023 and until May 2024. The termination of this agreement had a comparatively smaller impact on the net basis, with Victoria's net written premiums (NWP) declining to KZT 12.5 billion in 2024 from KZT 18.1 billion as this contract was largely reinsured. AM Best remains the leading rating agency of alternative risk transfer entities, with more than 200 such vehicles rated throughout the world. For current Best's Credit Ratings and independent data on the captive and alternative risk transfer insurance market, please visit This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments.
Yahoo
13-05-2025
- Business
- Yahoo
AM Best Affirms Credit Ratings of Victoria Insurance Company JSC
LONDON, May 13, 2025--(BUSINESS WIRE)--AM Best has affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Rating of "bbb-" (Good) of Victoria Insurance Company JSC (Victoria) (Kazakhstan). The outlook of these Credit Ratings (ratings) is stable. The ratings reflect Victoria's balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, limited business profile and weak enterprise risk management. Victoria's balance sheet strength is underpinned by risk-adjusted capitalisation at the strongest level, as measured by Best's Capital Adequacy Ratio (BCAR), and its relatively conservative investment portfolio by asset class, providing the company with good levels of liquidity. A track record of solid internal capital generation has resulted in the accumulation of a large shareholders' equity base, available to absorb potential volatility associated with Victoria's underwriting exposures and challenging operating environment. An offsetting factor to the balance sheet strength assessment is Victoria's limited protection against potential natural catastrophe losses in Kazakhstan. Victoria has a track record of strong operating performance supported by solid underwriting profitability, as demonstrated by a five-year (2019-2023) weighted average combined ratio of 77.8% (as calculated by AM Best based on IFRS 4 results). However, technical results have been volatile due to low frequency, high severity claims in its property and liability books of business. In 2024, Victoria reported overall unaudited pre-tax earnings of KZT 14.3 billion (approximately USD 27.8 million), compared with KZT 7.5 billion (approximately USD 14.5 million) in the previous year, underpinned by a good technical result of KZT 2.0 billion (approximately USD 3.8 million) and solid investment returns, reflecting the high-interest rate environment in Kazakhstan and globally. AM Best expects Victoria's operating performance to remain strong, albeit volatile due to changes in the value of fixed-income investments, as a result of interest rates and foreign currency exchange fluctuations. Victoria has a limited business profile as a small, non-life insurer operating solely in Kazakhstan's fragmented and competitive insurance market. The company is ranked 11th among the country's 15 non-life insurers, based on 2024 gross written premium (GWP), with a market share of 1.9%. Victoria's GWP substantially decreased in 2024, to KZT 13.3 billion (approximately USD 25.9 million). The decline was driven by a termination of a material motor and property co-insurance arrangement that has been in place in 2023 and until May 2024. The termination of this agreement had a comparatively smaller impact on the net basis, with Victoria's net written premiums (NWP) declining to KZT 12.5 billion in 2024 from KZT 18.1 billion as this contract was largely reinsured. AM Best remains the leading rating agency of alternative risk transfer entities, with more than 200 such vehicles rated throughout the world. For current Best's Credit Ratings and independent data on the captive and alternative risk transfer insurance market, please visit This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments. AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit Copyright © 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED. View source version on Contacts Anna Sheremeteva Financial Analyst +44 20 7397 6264 Valeria Ermakova Associate Director, Analytics +44 20 7397 0335 Christopher Sharkey Associate Director, Public Relations +1 908 882 2310 Al Slavin Senior Public Relations Specialist +1 908 882 2318 Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
